AXA Insurance Announces Strategic Distribution Agreement with HSBC for Cargo Insurance Product
AXA Insurance Gulf and HSBC Bank Middle East have entered into a strategic marketing and distribution agreement wherein AXA will provide cargo insurance to HSBC Bank customers.
September 27, 2009 12:00 by Aarti Nagraj
AXA Insurance Announces Strategic Distribution Agreement with HSBC
for Cargo Insurance Product
Following this agreement HSBC will promote and distribute a cargo insurance product branded ‘Cargo Safe’, underwritten by AXA, to their customers at competitive terms. ‘Cargo Safe’ provides protection to HSBC customers based on AXA’s leading position and extensive experience in offering cargo insurance in the
This partnership will broaden HSBC’s product portfolio and will cover GCC countries,
Toby Sizeland, Chief Officer Corporate Solutions Marine & Large Risks said: “The need to offer enhanced services and scope of cover is essential for businesses in the region whose purchasing needs are becoming more sophisticated. Customers can reap benefits for their business through enhanced protection of their cargoes, improved administration, and increased competitiveness resulting in greater profitability.”
David Hunt, Head of Insurance for the Middle East, HSBC said, “In these challenging times, HSBC has demonstrated its strength and commitment to the trading community in the region by helping them secure finance, mitigate risks and grow their business. With this agreement, we will now be in a unique position to be a one-stop shop for our customers’ trade finance needs. Small and Medium business can specially benefit from the convenience and accessibility of this product through their local HSBC bank.”
Commenting on the tie-up Jean-Louis Laurent Josi,
About AXA in the GCC:
With a workforce of over 650 employees, 12 offices region-wide, a customer base of 500,000 and a gross written premium of over US$ 430 million, AXA is the leading non-life international insurer in the
About AXA group:
CS FP – Reuters: AXAF.PA). The American Depository Share is also listed on the NYSE under the ticker symbol AXA.
HSBC Insurance provides policies in over 50 countries and territories to its personal, commercial, corporate, institutional and private banking customers. The diverse needs of its customers worldwide are recognised by HSBC Insurance and it offers products and services to suit them including: life assurance, general insurance, commercial risk and retirement provision.
Find out more at www.hsbc.com/insurance